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Govt eyes stake sale in other oil PSUs

Union finance minister Arun Jaitley discussed the stake sale in Oil India and GAIL with oil minister Dharmendra Pradhan at a meeting in the national capital on Thursday.

 
 
The PSU steel maker indicated that the investment line-up would encompass both brownfield and greenfield expansion.
Coal Unions said nearly 5 lakh workers, including those of Coal India, have joined the strike, which is being billed as the biggest industrial action since 1977.
On its first day itself, the strike is estimated to have caused production losses to the tune of Rs 70 crore in first two shifts Tuesday, officials said.
The company accounts for about 80% of country's total output and worker strikes have previously crippled power plants. Coal fuels 60% of the country's power production.
Prior to this, Bhattacharya was the CMD of state-owned Singareni Collieries Company.
The alliance between the three companies forms part of the 'Make In India' initiative of the government especially for catering for the defence sector.
Of the total, the PSU will invest Rs 1,800 crore to make the end product compliant with the low-sulphur Bharat Stage (BS-IV and BS-V) norms.
 
 
CIL workers' unions are protesting Prime Minister Narendra Modi's move to allow private companies to mine and sell the fuel for the first time in 42 years.
Coal workers and unions across the country are bitterly opposed to the coal block allocation ordinance that they say could lead commercial mining of the fuel.
Central trade unions, including INTUC, BMS, AITUC, HMS and CITU, have given a strike notice to Coal India and called the strike from January 6 to January 10.
The PSU has been asked to pay royalty on the $1.41 per unit it is collecting on natural gas produced from Reliance Industries' eastern offshore KG-D6 fields.
However, the agency said it expects access to core equity to remain challenging.
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